World
AfDB Mobilizes Funds for Projects Via Integrated Platforms
By Kester Kenn Klomegah
The African Development Bank (AfDB), which sets its primary tasks of contributing to the continent’s economic and social development by providing the necessary concessional funding for projects and programmes, as well as offering and coordinating assistance in capacity-building activities, has now embarked on various post-COVID-19 initiatives throughout the continent, especially in the least developed African countries.
In the latest was the mid-March event where potential investors have examined more than $50 billion of curated bankable projects in key priority sectors identified in the Africa Investment Forum’s 2020 Unified Response to COVID-19 initiative.
The sectors include agriculture and agro-processing; education; energy and climate; healthcare; minerals and mining; information and communications technology and telecommunication; and industrialization and trade. Nine of these projects are women-led, with a potential value of $5 billion.
The AfDB has secured $32.8 billion in investment commitments for projects in Africa. The largest deal secured at the three-day Africa Investment Forum was $15.6 billion for the Lagos-Abidjan mega highway of about 1,200 km (745 miles) will have four to six lanes, connecting West Africa’s two major cities in Nigeria and Ivory Coast, said AfDB President, Mr Akinwumi Adesina.
“Africa is a very bankable continent. We’ve gone through hard times because of the Covid-19 situation but here we are on a rebound,” said Adesina. “Africa is back for investments.” The projects, part of the bank’s Covid-19 response, touch on sectors including agriculture and agro-processing, education, energy and climate, healthcare, minerals and mining, and information and communications technology.
Adesina said that on the health side, projects include a new medical city in Accra, Ghana, a fund for health services for low-income populations in South Africa, and two platforms for manufacturing pharmaceutical products: one in West Africa and one in Kenya.
The African Continental Free Trade Area (AfCFTA), launched under the African Union, provides unique and valuable access to an integrated African market of over 1.3 billion people. In practical reality, it aims at creating a continental market for goods and services, with free movement of business people and investments in Africa.
The bank together with health giants has also set eyes on capitalizing on the advantages and conditions to push for healthcare issues. It, as well, is expected to advance the integration of African markets and standards for pharmaceuticals and other goods.
As a result, the Africa Investment Forum is curating several investment-ready transactions that align closely with the three healthcare pillars outlined by the AfDB President.
The investor boardroom sessions feature a $49 million transaction involving the construction of a pharmaceutical and biomedical hub in West Africa. The hub will incorporate a logistics platform, research and development facilities and an academic institution that could serve the region and the wider continent in vaccine manufacturing and drug and medical development.
A second vaccine-related transaction is a $45 million production plant in East Africa, which the World Health Organization (WHO) has pre-qualified. The plant will routinely produce three vaccines, including one for COVID-19.
It was no surprise that the WHO recently announced that Kenya, Senegal, Tunisia, South Africa, Egypt and Nigeria would be the first participants in its mRNA technology transfer hub initiative. The initiative paves the way for the manufacture and licensing of a range of pharmaceuticals in these six countries. It is likely to trigger strong investor interest in Africa’s burgeoning pharmaceutical sector.
The Africa Investment Forum and AfDB have championed two initiatives that are driving trade integration and regulatory harmonization throughout Africa. These are the African Medical Agency and the Africa Continental Free Trade Area.
In order to realize further its set goals, the AfDB has approved funding of $127.8 million to Niger. The funds approved by the Board of Directors of the African Development Fund, the Group’s concessional arm, will be used for a project to open up access to farming and pastoral lands in the east of the country, along its border with Nigeria.
It has also approved a $125.3 million loan to finance the first phase of the Dodoma Resilient and Sustainable Water Development and Sanitation Program in Tanzania.
Specifically, the loan from the African Development Fund will cover the construction of a dam and water treatment plant to address supply challenges in Dodoma City and the towns of Bahi, Chemba and Chamwino.
As a lead partner of the 9th World Water Forum, it plans to earmark more than $5.6 million to support the forum, billed as the world’s largest international water-related gathering. The event will be an opportunity for attendees to gain a deeper insight into how the bank provides technical and financial support to regional member countries to ensure water security for sustainable development in their territories through its Water Development and Sanitation Department.
“As one of the leading financing institutions on the continent with a commitment to the development of Africa’s water and sanitation sectors, it is a natural fit for the African Development Bank to support the Government of Senegal in co-hosting this Forum,” said Beth Dunford, the Bank’s Vice President for Agriculture, Human and Social Development. “Failure is not an option when it comes to mitigating the imbalance between water needs and water availability to boost economic development and stability,” she added.
Last month, for instance, it approved a $1.4 million grant for enhancing private sector engagement and capacity building for refugees and internally displaced persons in fragile areas of northern Mozambique.
The project will be implemented by the global refugee agency UNHCR, collaborating with the Government of Mozambique. The grant is from the Transition Support Facility Pillar III.
Mozambique is host to 28,000 refugees and asylum seekers and over 735,000 people displaced by ongoing violence in Cabo Delgado Province. The majority of the internally displaced people remained in the province. An estimated 69,000 people moved to Nampula, and the remaining moved to the provinces of Niassa, Sofala, and Zambezia.
As the United States and European sanctions broadened due to the “special military operation”, largely directed at “demilitarization” and “denazification” in Ukraine, there are, undoubtedly, terrible impacts on the African economy: increase in the price of gas, oil, agricultural raw materials…et cetera.
There is also some African ambiguity about Russia, with the public seeing Putin as a strongman who would therefore have the right to decide on a country’s future security alliances while being very concerned about their sovereignty.
The Russia-Ukraine crisis that started on February 24, to a considerable extent, has affected a number of African countries. The AfDB plans to raise $1bn (£759m) to support agricultural production in Africa and shield the continent from potential food shortages arising from the Russia-Ukraine crisis.
Agricultural trade between the continent’s countries and Russia and Ukraine is significant. African countries imported $4 billion worth of agricultural products from Russia in 2020.
About 90% of these products were wheat, and 6% were sunflower oil. The main importing countries were Egypt, which accounted for almost half of the imports, followed by Sudan, Nigeria, Tanzania, Algeria, Kenya and South Africa.
The UN also says at least 15 African countries get more than half their wheat from the two warring nations. Somalia, Benin, Egypt and Sudan are the most dependent. “The AfDB sees these increases in prices of wheat, maize and soya beans as potentially going to worsen food insecurity and raise inflation,” Mr Adesina said.
The bank intends to organize a meeting of African finance and agriculture ministers to roll out that plan. Through the fund, AfDB wants to increase the production of wheat rice, maize and soya beans using climate-resilient technologies, including heat-tolerant and drought-tolerant crop varieties. The heat-tolerant wheat variety has already been experienced in Sudan and Ethiopia.
The Africa Investment Forum, launched in 2018, is a multi-stakeholder, multi-disciplinary platform that advances private and public-private partnership projects to bankability. It raises capital and accelerates deals to financial closure.
The Africa Investment Forum is an initiative of the eight founding partners including the African Development Bank; Africa 50; the Africa Finance Corporation; the Africa Export-Import Bank; the Development Bank of Southern Africa; the Trade and Development Bank; the European Investment Bank; and the Islamic Development Bank.
By Adedapo Adesanya
The President of the African Development Bank (AfDB), Mr Sidi Ould Tah, says more African countries are likely to regain or achieve investment-grade credit ratings by next year as reforms begin to deliver results and economic growth accelerates.
Several African sovereigns have already been upgraded in recent months, including Nigeria. However, Nigeria is not yet near investment-grade status.
In May, S&P Global Ratings upgraded Nigeria’s sovereign credit ratings to ‘B’ with a stable outlook, citing structural reforms under President Bola Tinubu and key drivers like higher oil production and improved fiscal revenue.
The country is still five notches from investment-grade. Under S&P’s rating scale, the progression follows— B → B+ → BB- → BB → BB+ → BBB- (investment grade).
S&P raised Morocco to investment grade last year and increased South Africa by one level to BB in November. Ghana, Zambia, the Ivory Coast and Kenya have also benefited from positive rating action linked to fiscal, debt and economic reforms.
“We’re quite confident that the continent will continue to grow very strongly and that African countries will be better rated in the coming years,” Mr Ould Tah said in an interview with Bloomberg.
“We’ve seen Morocco receive investment grade during the last few months, and we expect other countries by next year to get toward that,” he added.
The outlook reflects improving fiscal positions and reforms implemented across countries on the continent, even as the conflict in the Middle East threatens to slow economic growth and raise costs for energy-importing nations. Better credit ratings can help countries borrow at lower rates and fund development projects.
The AfDB projects the continent’s gross domestic product expansion will accelerate to 4.4 per cent next year, if the conflict in the Middle East does not extend for a longer period. It expects the continent to slow to 4.2 per cent this year.
The war in Iran has benefited oil producers such as Nigeria, Angola and Gabon, while exerting pressure on the fiscal positions of net energy importers such as South Africa, Kenya, Ghana and Senegal.
Mr Ould Tah said the bank is ready to support countries facing budget constraints and high debt burdens due to the impact of the Iran crisis, including increasing credit lines to them.
“The board of directors of the bank will examine in the coming days how the bank can increase the volume of resources it will provide to its member countries in this specific situation,” he said.
By Kestér Kenn Klomegâh
Within the framework of the Expert Council on Africa at Russia’s State Duma, the lower chamber of parliamentarians, during its annual round-table conference, held in late May 2026, focused concretely on food security in Africa.
Under the chairmanship of Deputy Speaker of the State Duma, Alexander Babakov, the council’s round-table session on Russian-African cooperation in the field of ensuring food security, introduction of closed cycle technologies in agricultural and bioeconomy projects, was held in the State Duma.
Opening the meeting, Alexander Babakov noted the importance of continuing cooperation with African countries already in the new convocation of the State Duma, to which elections will be held in September 2026. “I am sure that right from the beginning of the work of the new convocation, the theme of cooperation between Russia and African countries will work as an example for circulation and use in other areas,” he said.
Member of the Committee on the Development of the Far East and the Arctic, deputy chairman of the Expert Council on Africa, Nikolai Novichkov, in his speech stressed the importance of a gradual transition to trade with African high-tech countries. “Our African partners are interested in producing and processing food locally, including earning a living on it,” the parliamentarian stated.
Director of the Department of Partnership with Africa at the Russian Foreign Ministry, Tatiana Dovgalenko, drew attention to the continued importance of the humanitarian component of Russian-African cooperation, which, despite efforts, “unforeseen, including and along the lines of specialised UN agencies, the number of hungry people in the world, according to experts, has been growing over the past few years.” According to Dovgalenko, the food crisis is localised in about 10 countries, four of which are in Africa.
As first deputy chairman of the Committee on International Affairs, Alexei Chepa noted, the food crisis and a number of other serious threats on the African continent are today exacerbated by a complex international situation, with the United States and Israel versus Iran causing rising energy prices worldwide. “This has also reflected on the cost of fertilisers that needed to be purchased previously. Even if prices fall in a few months, the yield still won’t. And there will be problems in Africa. At the same time, we understand that population growth in the coming years will be at Africa’s expense,” Chepa underlined in his contribution at the meeting.
Alexei Chepa also mentioned the special role of security enhancement in Africa, including in countering extremism and terrorism.
As part of the continuation of the work of the roundtable to promote cooperation with African countries in ensuring food security, the introduction of closed-loop technologies in agricultural and bioeconomics projects was discussed. As a traditional procedure, some recommendations are addressed to the Government of the Russian Federation.
In addition to representatives of the State Duma, diplomats, scientists, experts from related fields, representatives of the Government of the Russian Federation and the business community took part in the round-table discussion.
By Kestér Kenn Klomegâh
The fourth India-Africa Forum Summit (IAFS-IV), originally scheduled for May 28 to May 31, 2026, in New Delhi, has been deferred to a later date due to the high risks of the Ebola virus, emerging and rapidly spreading from the Democratic Republic of Congo (DRC), in the central African region.
The African Union and Indian authorities jointly decided to postpone the summit to ensure the health safety of African leaders, stakeholders, corporate executives and entrepreneurs, amid public concerns over participants travelling from the virus-infested continent to New Delhi, India.
The India-Africa business dialogue is designed to strengthen bilateral partnerships, while facilitating networks for building not just real conversations but accessing new models of transacting corporate business and remoulding investments. It has three-fold dimensions: strategic partnerships, getting new clients and potential investors. An entirely significant collaboration that opens new markets.
Too often, businesses focus only on visibility and forget the power of relationships. But growth rarely happens alone. It happens through collaboration, trusted partnerships, and being in spaces where serious conversations happen naturally.
India-Africa has previously held a series of such high-level meetings with key trade and economic institutions in Africa as part of efforts to strengthen bilateral trade, investment cooperation and private-sector partnerships between India and Africa. These engagements aimed at identifying new economic opportunities and supporting the expansion of Indian-based companies into promising African markets.
Key Details & Context
Postponement Status: Following joint consultations, both sides mutually agreed to convene the summit at a later date. No rescheduled date has been announced at this time.
Summit Objectives: The summit, the first gathering since 2015, aims at deepening strategic multifaceted ties, focusing on South-South cooperation, technology transfers, capacity building, and healthcare resilience.
Official Information:
- Tracking the latest developments, both the Government of the Republic of India and the African Union have been working closely on the convening of the Fourth India–Africa Forum Summit (IAFS IV), initially scheduled to take place in New Delhi from 28–31 May 2026.
- The two sides exchanged views on the evolving health situation in parts of Africa and reaffirmed the importance of continued cooperation in strengthening public health preparedness and response capacities across the continent, including through support to Africa CDC and relevant national institutions.
- India reaffirmed its solidarity with the peoples and Governments of Africa and expressed its readiness to contribute to Africa CDC-led efforts aimed at addressing the evolving health situation, in line with the shared commitment to an Africa-led response.
- Recognising the importance of ensuring the full participation and engagement of African leaders and stakeholders, and mindful of the emerging public health situation on the continent, consultations were held between the Government of India, the Chairperson of the African Union, and the African Union Commission regarding the holding of the Summit and associated activities.
- Following these consultations, the two sides agreed that it would be advisable to convene the Fourth India–Africa Forum Summit at a later date.
- New dates for the Summit and its associated meetings will be finalised through mutual consultations and communicated in due course.
- India and Africa reaffirmed their longstanding partnership founded on solidarity, mutual respect, South–South cooperation, and a shared commitment to peace, development, prosperity, and the well-being of their peoples.
Previous Editions of the India–Africa Forum Summit
1st India–Africa Forum Summit
New Delhi, India – 2008
The first edition was held in New Delhi from 4–8 April 2008. It marked the launch of the India–Africa strategic partnership framework and resulted in the adoption of the Delhi Declaration and the India–Africa Framework for Cooperation.
2nd India–Africa Forum Summit
Addis Ababa, Ethiopia – 2011
The second edition was held in Addis Ababa in May 2011. Leaders focused on expanding cooperation in trade, infrastructure, human resource development, agriculture and peace and security.
3rd India–Africa Forum Summit
New Delhi, India – 2015
Theme: “Reinvigorated Partnership – Shared Vision” This edition was historic because all African countries were invited, making it one of India’s largest diplomatic gatherings with African leaders.
About the India–Africa Forum Summit: The first three Summits were held in New Delhi (2008 and 2015) and Addis Ababa (2011), resulting in important outcomes such as the Delhi Declaration and the Africa–India Framework for Cooperation. The India–Africa Forum Summit (IAFS) is the highest institutional platform for dialogue and cooperation between India and African countries, held under the leadership of the African Union.
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